Eric Lefkofsky (Photo credit: Wikipedia)
Near the end of 2011, two hot Internet companies conducted rich initial public offerings that seemed to inaugurate a new Internet stock boom. Groupon, a daily deals web site, raised $700 million and was valued at $13 billion. Online game maker Zynga raised some $1 billion and was valued at nearly $9 billion. With
Facebook’s IPO on its way, the people behind these companies promoted the idea that 2012 was going to usher in a new era for Internet companies and the venture capital firms that backed them. “Our goals were we want to raise a billion dollars,”
Mark Pincus, Zynga’s CEO,
said at the start of 2012. “Through going public, we wanted to add some more great long-term investors to the company. All of that was successful.”
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